How Your Holiday Shopping Will Impact Your 2014 Financing Goals

Gathering family and friends to celebrate the holidays is always an eventful experience, with memories to cherish for years. From when Halloween begins and New Years ends, and Thanksgiving and Christmas in between, purchasing items for the holidays is a must in order to partake in the celebrations. Halloween needs all of the candy and costumes, Thanksgiving needs its Turkey and delicious food, Christmas needs all of the presents and tree and lights, and New Years needs the alcohol and party necessities. With all of the purchases made for each holiday, it is not shocking the final toll it has on expenses. Stores line there pockets with cash as individuals lose out on all of theirs. This can significantly affect the financial goals a person may make for their 2014 year.

In this modern day and age, where anything can go, it is important for the average American to have financial stability. This can be met with setting aside savings, and many Americans do set aside some money for security. Also, many people save money for vacations, buying a home, buying a car, or any other large financial investment. This is easily done by figuring out the monthly income and setting aside a portion of that that is not needed for bills and other personal cares. However, when the holiday season comes around, the goal for savings at the end of the year can be completely altered. Setting aside the intended money can become impossible if there isn’t room for all of the holiday purchases. At times, folks even have to dip into the money they saved to be able to get all they may want or need. This can throw someone off of the goal that they had wanted to reach and if this goal was for a large purchase, the wait for the item will be longer.

The best way to avoid being put into a disappointing position like that, is to be sure that you finance your money during the holiday season with money set aside for the items that need to be purchased. If the individual knows what is coming and has the money figured out to include holiday expenses, then the goals won’t be uprooted and there will be a more realistic financial goal. Keep in mind that when the end of the year comes around and all of the seasonal events begin, your financial goal must be extended in to the next year. Also, if you plan your holiday expenses in the future, you will be able to know exactly how much you can spend and not have to spend too much. Over-budget slightly to help, but cut back on things that aren’t a necessity. This way, the financial goal will only be slightly affected.

Kyle Burton is a finance writer for a number of websites, including Signature Loans Direct where he helps consumers learn about online financing, budgets and consumer loans to make informed financial decisions

Consolidating Your Debts Into One Lower Rate Personal Loan

Help your family get out of debt by obtaining a low rate unsecured loan

Many Americans are struggling financially. There are many factors that can contribute to debt. Family illness and unemployment are just a few of the occurrences that could cause you to get behind on your bills. Once you are behind it seems almost impossible to get caught up. It is especially difficult if you fall behind on your credit cards. Credit cards hit you with late fees continuously until you get caught up. Some credit cards can even increase their interest rates and fees.

pdlogoIf you are falling behind on your car payment then you are taking the risk of possibly having your vehicle repossessed. Often lenders have clauses in contracts allowing them to repossess your vehicle once you fall as little as two payments behind. Once the vehicle is repossessed you may be required to pay the entire remaining balance on the loan plus additional fees. This could put you even further behind. If you cannot come up with the money to get your car back then you will have even more obstacles ahead of you.

Financial stress can cause problems in other areas of your life. Statistics show that financial problems are one of the leading causes of divorce. If members of your household are dealing with stressful situations related to your financial struggles, it is important that you work to solve your financial problems. Why would you continue to work harder and harder just to get further and further behind? Help be part of the solution, not the problem. There are options to help you.

If you are struggling to pay your bills but just not getting ahead maybe you should think about debt consolidation. Debt consolidation is a great start to getting on track with your bills. Debt consolidation is where you have all your debts combined together into just one low monthly payment. This payment can save you lots of money. You do not have to worry about paying several different amounts all throughout the month. You can just pay one low monthly payment. You will not have to worry about reoccurring late fees.

Do not worry. If you do not have any collateral, unsecured loans are available. You can even end up paying less interest then you were paying on your credit cards. Your payment can be lower than all your other payments combined.

With lower monthly payment you will be able to have more money for the things you and your family need. You can have the money to do the much needed repairs to your car or home. It is important to remember to have discretion while spending. Debt consolidation can give you a fresh start. It is important to not make the same mistakes twice.

Tips for Debt Consolidation By Reducing Your Overall Interest Expenses

olderbwDebt consolidation is an extremely valuable tool and, nowadays, popularly used by consumers who are having problems keeping up with their balance. In the most fundamental sense, debt consolidation lifts the heavy debt burden off one’s shoulders and allows the individual’s finances to breathe. It gives an opportunity for a fresh start in what seems to be a dim future financial plan. But why is it appealing to most borrowers? Is it really that effective compared to other debt solutions? Let’s look at debt consolidation more closely.

Consolidating your credit cards and outstanding loans and liabilities is a great way to eliminate accrued credit. One of its primary effects is it significantly lowers interest rates by rolling multiple credit instruments into one vehicle. Rather than having to pay all of your lenders at preset dates, you take out one new loan that distributes your payment to all liabilities. As a result, there is a lower interest loan to service.

Debt consolidation is also a quicker method of straightening out your outstanding credit. It allows the borrower to finish payments and recover his/her financial stature as soon as possible without having to resort to more serious penalties like bankruptcy. Furthermore, consolidation is deemed important by financial specialists since people are often paying too much interest on their mortgages and credit cards.

For people who do not know or cannot seem to oversee their bills getting paid on time, consolidation is also an ideal option to enforce. If you think this is something you are interested in, here are tips on how to consolidate your debt.

First and foremost, get a hold of your credit reports and credit scores. You can get this information from each of the three primary credit report agencies free of charge once a year. Credit scores greatly impact interest rates. Poor scores are commensurate to higher rates and vice versa.

Next, take an inventory of your balance. List all of the balances you owe on every card or loan you have and want to combine. Detail each credit instrument’s interest rates, monthly payments, and any other detail that may be worthwhile knowing.

Then, know what your options are for consolidating debt. Common options include securing and installment loan from your local bank or credit union. Thanks to modern technology, lenders can also be found online. Before applying, find out the lender’s requirements and the fees involved. Some lenders, for instance, may set a minimum credit score and reject any applications that fail to meet it.